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China's social security fund worth 856.8 bln yuan by 2010

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BEIJING, March 15 (Xinhua) -- The total assets of the fund managed by China's National Council for Social Security Fund (SSF) reached 856.8 billion yuan (130.45 billion U.S. dollars) by the end of 2010, up 10.32 percent year on year, an SSF official said Tuesday.

Dai Xianglong, chairman of the SSF, said during a board meeting that the fund's average annual earnings rate by the end of last year stood at 9.17 percent, 7.03 percentage points higher than the average inflation.

The SSF will strengthen its capability to identify, measure and ward off potential risks, and, meanwhile, seize investment opportunities to maximize the fund's earnings, said Dai.

The fund was designed to serve as a solution to the country's aging problem and as a strategic reserve to support future social security expenditures.

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